Christchurch Figures Q3 2026

KEY MARKET CHANGES

• Christchurch CBD office vacancy rose across both Prime and Secondary grades in 
  H1 2026, driven mainly by key tenants vacating space. This contrasts with previous 
  periods, when vacancy fluctuated due to the completion of new or refurbished 
  (committed and uncommitted) developments. No such completions occurred in the 
  CBD during H1.
• In Q2 2026, Christchurch CBD office leasing activity was supported by suburban 
  tenants relocating into the CBD, driven by strong demand in the Frame precinct near 
  the new stadium. This pushed up face rents in both Prime and Secondary 
  submarkets, though the increase was more modest than in Q1.
• Christchurch industrial vacancy decreased to 2.0% in H1 2026 (from 2.1%), close to 
  the five-year average, with both Prime (2.7%) and Secondary (1.6%) vacancy falling 
  despite some notable move-outs by large companies due to relocations. Also, 
  record-high net absorption levels were driven by the addition of a large amount of 
  new industrial stock.
• Strong agricultural performance and robust consumer confidence are helping 
  Canterbury's retail sales. At a territorial authority level, in the year ending May 2026,retail spending in Christchurch increased by 0.9% compared to the previous year.